WTI Holds Below $68 After Surprise Crude Inventory Build

WTI has extended its losses since last night’s surprise API-reported crude inventory build., and DOE confirmed with a surprise 3.8mm bbl inventory build and while WTI tried to rally (smaller build than API), the jump stalled at $68.00…   API Crude +5.59mm  (-3mm exp) Cushing…

Why Are “Thousands” of Teslas Sitting In a Field in California?

“There’s so much inventory here, it’s crazy.” When Tesla finally met its Model 3 production run rate target, astute investors and analysts pointed out the use of the word “factory gated” in the company’s press release: “Not only did we factory gate 5000 Model 3’s,…

Is OPEC’s Mission “Accomplished”?

Authored by Nick Cunningham via OilPrice.com, OPEC’s goal of draining the global inventory surplus has finally been achieved. The International Energy Agency said in its latest Oil Market Report that the supply overhang has pretty much vanished, thanks to OPEC’s efforts at limiting production. “It…